Evercore ISI Lowers Target (NYSE:TGT) Price Target to $130.00

Target (NYSE:TGT) had its target price reduced by Evercore ISI from $165.00 to $130.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an in-line rating on the retailer’s stock.

Other analysts also recently issued reports about the stock. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. Stifel Nicolaus upped their price objective on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Bank of America lowered their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday. Truist Financial upped their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company lowered their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Target Price Performance

TGT stock opened at $125.01 on Thursday. The firm has a 50-day moving average of $151.27 and a 200 day moving average of $149.54. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.27. The company has a market cap of $57.59 billion, a P/E ratio of 13.26, a PEG ratio of 1.57 and a beta of 1.24. Target has a 1 year low of $120.21 and a 1 year high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 EPS. On average, sell-side analysts forecast that Target will post 9.58 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 47.51%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Hedge funds and other institutional investors have recently modified their holdings of the company. Cynosure Group LLC increased its stake in Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after buying an additional 65 shares in the last quarter. Financial Advocates Investment Management raised its stake in Target by 1.2% during the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp lifted its holdings in Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after purchasing an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. grew its holdings in Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after buying an additional 69 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.